Brick Triplex on Clay
1348 Clay Ave The, Bronx, NY 10456
For Sale
New
$1,299,000
The three-story property occupies an R7-1-zoned lot and is described as having potential for apartment conversion.
Property Size2,954 SF
Lot Size0.05 Acres
Days on Market6
Property Features for 1348 Clay Ave The
General Information
Standard status
Size
Lot size
Property subtype
Zoning
Additional Details
Public Transit
Multifamily Units
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Buildings
Stories
Units
Construction
Listing Agency:
CENTURY 21 Realty Specialists
Listed By:
Melissa K. Ng
(631) 396-1705
Source:
Elliman
Added: Nov 4
Last Checked: Nov 8 at 6:52AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of CENTURY 21 Realty Specialists
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Investment Insights
Based on property information with market context.
This three-story, brick, three-family building was built in 1920 and occupies a 24.75-by-90-foot lot. The property is zoned R7-1. A conversion to 10 apartments is identified as a possibility involving interior work, with no addition or ground-up construction; zoning and unit-count assumptions require buyer verification.
The property is near the B and D trains at 170th Street, the Bx41 on Webster Avenue, the Grand Concourse, and Claremont Park. Walk Score is 87, Bike Score is 79, and Transit Score is 100.
The property is near the B and D trains at 170th Street, the Bx41 on Webster Avenue, the Grand Concourse, and Claremont Park. Walk Score is 87, Bike Score is 79, and Transit Score is 100.
Key Highlights
- Three‑story brick building with three‑family configuration
- 24.75 x 90 lot in an R7‑1 zone
- Potential conversion to 10 apartments, subject to buyer verification
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$76,624
Cap Rate
5.90%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,532,480
$1.5M
Cap Rate 7%
$1,094,629
$1.1M
Cap Rate 9%
$851,378
$851.4K
Market Conditions
NOI Build-Up for 2,954 SF
Gross rent
$113.4K $38.40/SF
− Vacancy
−$4.0K −$1.34/SF
EGI
$109.5K $37.06/SF
− OpEx
−$32.8K −$11.12/SF
NOI
$76.6K $25.94/SF
Area
ZIP 10456
Vacancy
3.50%
Lease Rate
$38.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,532,480
Cap Rate 7%
$1,094,629
Cap Rate 9%
$851,378
Alternative Uses
Best Use
Multifamily LT 5
$1.09M
$957.8K – $1.28M
NOI $76,624 @ 7.0% cap · market cap 5.90%
Second Best
Apartment 5plus
$987.0K
$863.6K – $1.15M
NOI $69,090 @ 7.0% cap · market cap 5.32%
Theoretical Best
Office A
$1.49M
$1.31M – $1.74M
NOI $104,642 @ 7.0% cap · market cap 8.06%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
5,131
Businesses Nearby
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Business Placement
Demographics for 10456, NY
93,412
Population
33,321
Households
2.8
Avg Household Size
34
Median Age
14%
College-Educated
68%
High-School Grad
1.1 sq mi
ZIP Area
84,920
Density / Sq Mi
$35,676
Median Household Income
$30,340
Median Earnings
$1,194
Median Rent
$428,800
Median Home Value
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Market
Average Price Trend$/SF for Triplexes in Bronx, NY
Properties on Market for Triplexes in Bronx
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - The three-story property occupies an R7-1-zoned lot and is described as having potential for apartment conversion.
Where is this triplex located?
The property is located at 1348 Clay Ave The Bronx, NY.
What is the asking price?
The asking price for this property is $1,299,000.
What are key features of this property?
This property features: Three‑story brick building with three‑family configuration; 24.75 x 90 lot in an R7‑1 zone; Potential conversion to 10 apartments, subject to buyer verification
